In a stunning turn of events, Tottenham Hotspur Football Club has distanced itself from its former owner, Joe Lewis, following his indictment on insider trading charges by US federal prosecutors. The Bahamas-based billionaire, who held an 86.58% stake in Spurs, is facing serious legal consequences with a 19-count indictment, which includes 16 counts of securities fraud and three counts of conspiracy. This article delves into the repercussions of Lewis’ legal battle and the significant changes in the club’s ownership structure.
Joe Lewis Faces Insider Trading Charges of Tottenham
The article begins by shedding light on the charges brought against Joe Lewis by US federal prosecutors, outlining the severity of the allegations and the potential consequences he may face if convicted.
Lewis Steps Back from Ownership Position at Spurs
Detailing Lewis’ decision to step back from his publicly stated position at Spurs on October 5, 2022, the article explains how this move was officially endorsed by the Premier League’s board.
Ownership Structure at Spurs
This section delves into the ownership structure of Tottenham Hotspur Football Club, revealing that Enic owns 86.58% of the club, with the Lewis Family Trust holding a 70.12% stake in Enic. The remaining 29.88% of Enic is held by the club’s chairman, Daniel Levy, and certain members of his family.
Changes in the Lewis Family Trust
The article examines the changes within the Lewis Family Trust, which occurred on October 5, as two trustees were appointed to manage it on behalf of Lewis’ family. These trustees are Bahamas-based lawyers, Bryan Antoine Glinton, and Katie Louise Booth.
Lewis’ Influence Over the Club
This section investigates Joe Lewis’ involvement and influence over the club, emphasizing that he rarely gets involved in decision-making and entrusts the day-to-day operations to Chairman Daniel Levy.
Lewis’ Awareness of Charges
Addressing claims from a close source, the article discusses Lewis’ alleged unawareness of the impending charges against him in the US and his recent financial reorganization.
Spurs’ Response and Actions
The article highlights Tottenham Hotspur’s response to the scandal surrounding Joe Lewis and their efforts to distance themselves from him, ultimately acknowledging him as their owner only until October 5.
Impact on the Club’s Future
Exploring the potential impact of Lewis’ legal battle on the club, this section examines the ongoing challenges faced by Spurs, such as transfer negotiations, managerial changes, and player departures.
Spurs’ Pursuit of Stability
Detailing Tottenham’s efforts to stabilize the club amid the ongoing issues, this section addresses the potential replacement of the managing director of football and the delayed start date of the incoming chief football officer.
The Looming Departure of Hugo Lloris
This part discusses the expected departure of club captain Hugo Lloris, adding further complexity to Tottenham’s current situation.
Conclusion
In conclusion, the article emphasizes the gravity of the situation surrounding Joe Lewis and its potential implications for Tottenham Hotspur Football Club. The club’s efforts to distance itself from Lewis indicate their commitment to focus on the team’s future, despite the uncertainties surrounding key personnel.
For more updates follow Allinfohere
FAQs
Will Joe Lewis’ legal situation affect the club’s financial stability?
While the charges against Lewis are unrelated to the club, there may be indirect impacts on Tottenham’s financial stability if the legal battle escalates.
What percentage of the club does Daniel Levy own?
Daniel Levy, the chairman of Spurs, holds 29.88% of Enic, the company that owns 86.58% of Tottenham Hotspur Football Club.
Has the Premier League taken any action against Spurs due to Lewis’ charges?
The Premier League has not taken any action against Spurs, as Lewis stepped back from his ownership position before the charges were brought against him.
Will the ownership changes affect the club’s day-to-day operations?
The day-to-day operations of the club are primarily handled by Chairman Daniel Levy, and the ownership changes are unlikely to have an immediate impact on those operations.
How much is Joe Lewis worth?
Joe Lewis is estimated to be worth around £5 billion.